Wirehouse Firms
Learn the ins and outs of the wirehouse channel, including news, analysis and more on Bank of America-Merrill, Morgan Stanley, Wells Fargo and UBS.
UBS Improves Profits 32%; U.S. Advisors Top $1M in Average Fees
By Janet LevauxThe Swiss-based investment banks adds reps in the U.S.,though its growth in asset flows is weakening.
July 29, 2013
Wells Fargo Adds 34 Teams, $5.4B to Independent ChannelRecent groups have come on board from rivals like Morgan Stanley, Merrill Lynch and UBS.
July 25, 2013
UBS Signals Sizable Jump in Net Profits for Q2Estimated net asset inflows for Wealth Management Americas at $2.9 billion for its 7,000-plus advisors in Q2 2013.
July 24, 2013
Janney Recruits Ex-Morgan Stanley, Raymond James FAsThe two advisors come on board in Florida and New Jersey with about $90 million in client assets.
July 18, 2013
Don’t Diss Bond Funds: Goldman SachsAs interest rates rise and investors withdraw billions from bond funds, Goldman Sachs Asset Management is asking them to take a closer look at fund performance and asset allocations.
July 18, 2013
Morgan Stanley Reports 42% Jump in Q2 Net IncomeIts 16,300 advisors have yearly production of $866,000 on average.
July 17, 2013
BofA Boosts Profits 63% as Merrill Advisors Top $1M in ProductionAs the bank cut costs, its wealth management unit improved net income 38% to $758 million.
July 16, 2013
S&P 500 Q2 Outlook: Shrinking Revenue, ‘Subpar’ Profit GrowthCorporations have needed to carefully manage costs and profit margins because of a year-over-year decline in revenue growth, says S&P Capital IQ's Robert Keiser.